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Views: 54 DOM: 77 Updated: 11.11.24 Posted: 08.29.24 Status: Active

Summary

Price $1,357,576
Built/Renov 2006
Tenant Advance Auto Parts
Cap Rate 8.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 7,000
Lease Start 07-13-2006
#Units 5,105
Price/SF $193.94
Expiration 07-31-2026
Tenant Type Automotive
NOI $112,000
R. Term 1.8
Ownership Fee Simple
Rent/SF $16.00
Increases 10.0%/1/yrs
Pop 5Mi 26,735
Lot/AC 0.88
Options 2/5yrs/10%
AHHI 5Mi $98,974

Lease Highlights

  • Advance Auto Parts has been operating in this location since 2006
  • The tenant has 1+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Favorable NN+ lease with landlord responsible for structure only
  • Corporate guaranteed lease (NYSE: AAP)

Location Description

Advance Auto Parts is strategically located on Providence Road, with access to 18,879 vehicles passing by daily. The property is surrounded by well-known national tenants including McDonald's, CVS Pharmacy, KFC, Ace Hardware, Subway, and more. The 5-mile trade area supports a population of 26,735 residents with an average household income of $98,974. Brooklyn is a town in Windham County,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Advance Auto Parts, Inc. (Advance) is an American automotive aftermarket parts provider that serves both professional installers and do-it-yourself (DIY) customers. Advance is a publicly traded...


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Listing Broker

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